Edge Ai Market Size Is Predicted To Expand At A Cagr Of 33.5% To Reach Us$ 76.0 Billion By 2031

The global edge AI market is estimated to reach US$ 76 Bn by 2031, driven by the rise in demand for edge computing solutions and growth in adoption of IoT devices. Edge AI entails usage of AI technologies on edge devices, such as drones, smartphones, and sensors, to perform computations and examine data locally, thereby eliminating the need to transmit the data to a centralized cloud server for processing. The manufacturing sector has been rapidly integrating Industry 4.0 in the past few years, leveraging advanced technologies, such as AI, IoT, robotics, ML, and big data analytics, to digitize and automate manufacturing processes. Adoption of edge AI is becoming increasingly popular in manufacturing owing to a range of benefits it offers.